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Taxes

Secret IRS files show richest Americans pay nothing in taxes. How do they get away with it?

Secret IRS files show richest Americans pay nothing in taxes. How do they get away with it?

Some of these revelations are jaw dropping, like the fact that between 2014 and 2018, these 25 Americans experienced an increase of more than US$400 billion in their net worth, despite paying less than 4% of that in taxes. What’s the deal with these IRS files? * Recently, ProPublica

Why does the Biden administration want to raise the taxes of the wealthiest Americans?

Why does the Biden administration want to raise the taxes of the wealthiest Americans?

Biden’s American Families Plan seeks to raise the taxes of households earning more than US$400,000 a year, or what is often considered “the 1%.” * President Joe Biden’s administration has made it clear that it is looking to crack down on the different ways the wealthiest Americans

Why are Trump’s tax returns linking him to China important?

Why are Trump’s tax returns linking him to China important?

When asked about national security in the most recent presidential debate, Biden went after Trump’s businesses in China, claiming the president “paid 50 times the tax in China” than he paid in the US. On September 20, 2020, The New York Times published a report showing that President Donald

Trump denies report he pays almost no taxes, but won’t release tax returns

Trump denies report he pays almost no taxes, but won’t release tax returns

While the details reported in The New York Times do not appear to prove criminal activity, they do provide evidence that Trump likely benefited from illegal tax avoidance. In a revelatory story released on Sunday, September 27, The New York Times reported President Donald Trump has paid no income taxes